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Obama's $447 billion jobs bill that was blocked by Republicans lawmakers.
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Cheap would be spent to hire teachers and police, repair schools, and
promote research and development. The Wall Street rebounded from Friday's loss
and rose broadly higher on Monday after Greece approved steep financial cuts in
exchange for a second round of bailout money to avert a disastrous default. In
remarks at a community college in suburban Washington, the president said the
budget contains tough choices, but reflects his determination to boost the
economy through investments in education, manufacturing and clean energy.

The Nasdaq Composite Index rose 27.51 points, or 0.95 percent, to 2,931.39,
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renewing its 11-year closing record. We can't cut back on those things that are
important for us to grow. We can't just cut our way into growth. The U.S. trade
deficit got nearly 4 percent worse in December as a reviving economy boosted
demand for imported goods. We can cut back on the things that we don't need but
we also have to make sure that everyone is paying their fair share for the
things that we do need, Mr. Obama said. Both imports and exports hit record
highs, but imports grew even more than the flow of goods exported from the
United States.

The 2013 budget projects about $360 billion in savings through adjustments in
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government health care programs - Medicare and Medicaid. Many of the injured
were airlifted to Lima. More aftershocks jolted the region Friday, frightening
survivors but doing little damage. About $278 billion would come from other
cost-saving measures, including requiring more pension and other contributions
from federal employees. Republicans in Congress already have declared the
proposal dead on arrival.